Construction starts on new Lincolnshire business park
Work has commenced on a new business park in Gainsborough, which will bring around 50 new jobs to the area.
The new business park, named Wharton Place, is being developed by established Lincoln-based developer and contractor, Stirlin.
Once complete, Wharton Place will see the delivery of over 18,500 sq ft of new employment space across 1.3 acres, with a mix of light industrial units in sizes ranging from 1,270 sq ft – 2,500 sq ft, for a variety of business uses.
Wharton Place is Stirlin’s third commercial development in the area, following the success of their Stirlin Place and Willoughton Place.
The site is located on Foxby Lane, adjacent Lincoln County Council’s Business Centre: Mercury House, with excellent access to major road networks.
All ten units on the development will benefit from allocated parking, an electric sectional door, a personnel door and DDA compliant toilet facility, as well as an eaves height of 5 metres to accommodate a mezzanine floor upon request.
Howard Griffith, Stirlin’s Head of Construction, says: “We are delighted to commence works on Wharton Place. We’re seeing a continued demand for modern, cost-effective industrial space in the area, which has prompted the commencement.
“Our investment in the area is a testament to the town’s growing appeal as a thriving place to live, work and invest in. We are pleased to be able to help facilitate the growing local business base and bring new employment space to the area.”
Jamie Thorpe, Chartered Surveyor for Pygott & Crone, says: “It’s very positive to see the development of Wharton Place being brought forward by Stirlin, highlighting the continued confidence in this sector. The Stirlin team have already delivered two very successful schemes in this location and it’s clear that Gainsborough has been needing new modern business space to accommodate demand in the region.”
St. Modwen Logistics reveals £59m second phase of St. Modwen Park Derby
St. Modwen Logistics, the logistics developers and managers and a Blackstone portfolio company, has invested almost £60m to develop an additional c. 350,000 sq ft of new warehouse space at St. Modwen Park Derby.
Due for completion in 2024, this next phase will see St Modwen Logistics and Winvic Construction Ltd deliver a new 147,000 sq ft warehouse which has already been pre-let. Four additional new buildings totalling c. 200,000 sq ft will also be developed to help meet increased occupier demand for mid-sized industrial and logistics units in the East Midlands.
As part of the first phase of development, to date, St. Modwen Logistics has invested more than £45m in delivering over 300,000 sq ft of sustainable warehousing across four units at St. Modwen Park Derby. Completed in December 2022, it has already attracted two international occupiers, with German heat pump manufacturer Vaillant signing for 131,000 sq ft and Swedish medical technology company Getinge establishing a new Global Centre of Excellence for Chemistry at the scheme alongside its new UK headquarters. The quintet of new warehouses will be built to St. Modwen Logistics’ ‘Swan Standard’ for sustainable construction, meaning they will be highly energy efficient and come with an EPC A+ rating, thereby helping customers to reduce their operational costs. All five units will benefit from the installation of rooftop solar panels as standard. Additionally, all five buildings will aim to place in the top 10% of UK new non-domestic buildings for sustainability by targeting an ‘Excellent’ accreditation from BREEAM, the leading real estate sustainability body. In line with the company’s commitment to sustainable development, the Midlands-based company is also strengthening biodiversity at the Park through the creation of a new riverside nature corridor, having already planted 17,000 trees and shrubs as part of the first phase of construction. Located on Wyvern Way – adjacent to the A52 with direct access to the A38, A50 and nearby M1 motorway, and just 13 miles from East Midlands airport – St. Modwen Park Derby is one of the largest regeneration sites in the region and provides strong transport links and access to one of the highest skilled workforces in the country. Robert Richardson, development director at St. Modwen Logistics, said: “Our committed investments in St. Modwen Park Derby now exceeds £100m and our decision to embark on the next phase of development, underlines our confidence in Derby as hub for logistics as well as high-skilled tech and manufacturing. We expect a diversity of demand for the new units and a wide variety of employment opportunities to be generated. “The first phase of construction on the Park was a huge success and we are looking forward to working with Winvic again to deliver this next phase of development.” Ms Amanda Solloway, MP for Derby North, said: “It has been fascinating to see St. Modwen Park taking shape on what was waste ground next to the Wyvern Centre. Last year, I attended the launch event and saw first-hand the huge benefits that it will bring to Derby in terms of job creation and the provision of high-quality warehouse space and the kind of modern, dedicated office space that the city and the wider Midlands needs if it is to grow and prosper. “To see a further £59m invested into the park is therefore amazing news and an example of levelling up at its best!” Paul Simpson, Chief Executive, Derby City Council, said: “This is more great news for the city in what has been a bumper month of major investment announcements, following the decision to make Derby the home of Great British Railways. “In February we also welcomed two industry leaders, Getinge and Vaillant, to St. Modwen Park. Now we can look forward to seeing more in phase two, which will create more jobs and boost our economy further. It’s clear Derby is seen as a fantastic City in which to invest. “It was great to be on site to mark this occasion, and I look forward to seeing more investment in Derby and in the next phase of St. Modwen Park.” Danny Nelson, Winvic’s head of Industrial, Distribution and Logistics, added: “We have built an outstanding relationship with the St Modwen team in delivering the civils and infrastructure package and the four industrial units at Derby – as well assets across other sites – and we’re delighted to have secured the contract for Phase 2. “Sustainability is a fundamental part of both Winvic’s and St Modwen’s DNA and our one-team approach ensures we’re able to help occupiers achieve their own sustainability goals. The team is looking forward to progressing the scheme at pace and we are scheduled to complete all five facilities early in 2024.”Proposed grants could bring makers and designers to Derby city centre
Grants to convert city-centre properties into studios for artists, makers and designers could be available for landlords and business owners.
Derby City Council Cabinet will be asked to formally delegate approval of a grant scheme to help create suitable spaces for those working in the creative industries.
The idea has been in development since 2018 when the Council received £350,000 through a business rates pilot scheme towards developing a “Make and Trade Zone” for the city centre but was delayed by the Covid pandemic.
The Zone would work in a similar way to the development of Sneinton Market Avenues in Nottingham, which has revitalised a derelict site. Now a hub for independent businesses, it’s aimed at start-ups in the creative and digital sector who must use the units primarily as offices and workshops. Regular and one-off events attract footfall throughout the year.
A feasibility study was carried out to test the Derby concept, which completed just as the UK went into lockdown. The research identified that the digital, technical and creative industries needed space, ideally in the city centre, to help build a new creative working population.
Along with Marketing Derby, The University of Derby will be a key partner in delivering the scheme, bringing valuable experience of developing and running Banks Mill – a refurbished landmark building on Bridge Street, Derby. Fitted out with 38 studios, it offers business support and stepped rents for graduates and those starting out or recently established within the creative industries.
The scheme would be divided into two strands:
1. Grants of up to £50,000 for landlords to convert city centre properties into units suitable for creative industry and maker businesses.
2. Grants of up to £10,000 for creative and maker businesses to fit-out and refurbish their rented studios
Catherine Williams, head of regeneration at Derby City Council, said: “Derby has always been a city of innovators and our rich heritage of design and manufacturing speaks for itself.
“We are committed to supporting the makers of the future and the continued, long-term cultural vibrancy of the city,
“Dedicated studios would allow our maker businesses to benefit from being part of a vibrant, creative community who actively share advice and ideas, as well as inspire each other.”
Developer seeks permission to create homes in former mill building
Plans have been submitted to Derby City Council to transform the dilapidated former Osmaston Works in the city into a development containing more than 100 homes.
Mill owners ALB Group want to fully regenerate the site, creating much-needed housing for the area, as well as a three-storey office block.
The imposing mill building, built in the late 19th Century, will be retained and converted into 64 one- and two-bedroom apartments, complete with a ground floor gym area.
Meanwhile, the surrounding industrial units will be demolished to make way for two further apartment blocks, six small family homes, an office block and associated parking and cycle stores.
It is hoped that once planning approval is received, construction work will begin next year.
It is envisaged that the mill apartments will attract young professionals, while the two-bedroom terraced houses at the rear, complete with private gardens, will be aimed at families.
Arran Bailey, MD of ALB Group, said: “There are so many sites like this around the UK which represent the nation’s once booming manufacturing might but which have sadly been allowed to fall into disrepair.
“For largely commercial reasons, developers are reluctant to take on anything like this, where preservation is as important as construction. But we are determined to breathe new life into these down-trodden areas.
“These buildings deserve to be retained due to their character and history, and we are confident that residents and businesses in the area surrounding Osmaston Mill will benefit hugely from our proposal.”
Blueprint Interiors designated as Steelcase Platinum Partner 2023
Workplace consultants and commercial office fit-out specialists, Blueprint Interiors has been recognised as a Steelcase Platinum Partner 2023.
Steelcase offers a range of architecture, furniture and technology products and services designed to help people reach their full potential. Blueprint Interiors becomes one of only 34 dealers of out 230 Steelcase dealers in the EMEA region to achieve this designation.
In order to receive this status Blueprint Interiors had to reach the award criteria which included reaching company sales goals, demonstrating financial stability and an ability to meet Steelcase dealer co-branding requirements in its marketing and PR.
Gina Spering from Steelcase said: “As a recognised Steelcase Platinum Partner, Blueprint Interiors stands out as an exemplary dealer, engaging with customers and the community to deliver exceptional value to the people and places they touch.”
Gemma Ryder, furniture project manager at Blueprint Interiors, added: “We’d like to thank our customers for helping us create the kind of successful business partnerships that have made this recognition possible. We’re grateful to Steelcase for recognising our efforts to deliver a best-in-class experience for all our clients.”
Having just celebrated its 22nd company anniversary, Blueprint Interiors has developed its reputation based on designing people focused office spaces in which they are happy and motivated to deliver their best work.
Recent project completions include The Melton Building Society, Gleeds, Worldline Beeston, Futures Housing, Consultus, Roythorne Solicitors, Corteva Agriscience and a BUPA healthcare centre for Enigma Wellness. As well as being a designated Steelcase Platinum Partner, the company employs practitioners certified to help clients achieve The WELL Building Standard.
Company staff make Easter egg-stra special for vulnerable Derbyshire children
Vulnerable children supported by a highly valued Derby charity have been given a sweet treat this Easter with the donation of a huge pile of chocolate eggs.
Staff at Lubrizol’s UK headquarters in Derbyshire dug deep by answering a call from local charity Children First Derby for companies to donate Easter eggs for youngsters who may not have many treats in their lives.
Lubrizol was one of several companies to have responded, with its staff going out and buying a grand total of 92 eggs that were handed over to grateful leaders of the charity, destined for youngsters who may not receive the traditional chocolate treat that millions of other youngsters do.
Claire Hollingshurst, from Lubrizol’s charities and communities committee, said: “Colleagues at Lubrizol are always so generous when it comes to giving up their time for others or donating to great causes like this one. It was brilliant to be able to hand over a grand total of 92 Easter eggs to young people who are being supported by Children First Derby – an amazing charity that I know does so much for families in this area.
“Many families may take it for granted that their children can have an Easter egg at this time of year but not every young person is so lucky. I hope that the eggs donated by Lubrizol and other local companies are enjoyed by all those children who receive one.”
Children First Derby, which turns 50 next year, is a Derby charity that works with vulnerable children, young people and their families to make a positive impact in their lives and the local community.
Louise Webb, fundraising co-ordinator for the charity, said that the Easter eggs donated by Lubrizol and other companies would be highly appreciated by children who are being supported its three services: family support; mentoring and supervised contact for looked after children.
Through these services the charity supported 444 children and 140 adults in the Derby area in 2022, and leaders have said it has seen more demand with the impact of Covid and increases in the cost of living.
Louise said: “There are lots of things that we might take for that some children can’t – like Easter eggs.
“We are seeing more and more need for our services and we’re very grateful to companies like Lubrizol where staff have been so generous in going out and buying Easter eggs which I can promise will be very much enjoyed by all the young people we deliver them to!”
Children First Derby has reported “incredibly positive changes” in the lives of children, young people and families it has supported, including improved school attendance and attainment, reduced levels of anti-social behaviour, better relationships with family members, increased confidence and reduced social isolation.
The charity also delivers weekly diversionary activities including a football club, drama and climbing.
It relies on generous public donations to carry out its important work.
M&A activity in manufacturing sector remains resilient, despite headwinds
UK manufacturing M&A activity has been resilient despite considerable headwinds, according to research published by accountancy and business advisory firm BDO.
UK manufacturers are continuing to progress M&A strategies, despite the volatile macro-economic landscape. In 2022, there were 793 transactions involving a UK manufacturer, compared with a similar number of 779 in 2021, up from 595 in 2020.
The impressive levels of deal activity is notable given the market headwinds, reflecting both resilience and optimism in the UK manufacturing sector. Private equity maintained strong interest in the market, with buy-outs accounting for 1 in 5 deals.
Proportions of deals across subsectors remained largely unchanged from 2021, with Engineering Services accounting for the largest portion. There was a substantial increase in Manufactured Materials, which saw its share of deal activity increase from 9% to 13%.
The share of deals in Food & Drink declined from 13% in 2021 to 10% in 2022, while Building Products and Life Sciences remained among the top five sectors with the highest deals activity.
In a story of contrasts, inward investment to the UK declined by 14%, with 184 UK businesses sold to overseas acquirers in 2022, while outward investment from the UK increased by 14% with 115 overseas businesses acquired. Investment from North America declined by 34%, but still accounted for 29% of all overseas buyers.
Roger Buckley, UK Industrials M&A Partner at BDO, said: “The UK Manufacturing M&A market has been surprisingly resilient despite considerable headwinds. Investors, corporates and entrepreneurs are still active, making the most of strategic M&A opportunities to safeguard the future and position for growth.
“Major themes facing the market include cost pressures, supply chain resilience, the drive to Net Zero, innovation, and sustainability, alongside a wide range of political and economic macro factors.
“There is high scrutiny by investors across the board, but we see plenty of opportunities in the M&A mid-market, attracting high levels of interest, investment and value, particularly where there is a technology or sustainability play adding value.
“M&A strategies aligned with the major market themes of the moment can be a key driver to help businesses position for the future, access funding, attain greater resilience and competitive advantage.”
County Cricket Club sheds debt burden two years early
Derbyshire County Cricket Club has beaten its target for becoming debt free by two years as it recorded its ninth surplus in ten years for the year ending 31 December 2022.
The Club has announced a pre-tax surplus of £174,000 in 2022, which follows three years of positive financial results.
Chairman Ian Morgan said: “The Club exceeded its financial targets once again in 2022. We had budgeted for a small surplus of around £50,000, but were able to achieve three times this in a challenging year, during which the effects of the Covid-19 pandemic were still being felt, coupled with the rising costs all business are facing across the board.
“This positive result has ensured the Club is in a strong position and now debt free, following four years of large surpluses. It is great credit to the tireless work of our executive team, off-field staff and the continued support of a number of key stakeholders, including our commercial partners and Members, to whom we owe our gratitude.”
The Club started to see a return of revenues to more pre-pandemic levels and particularly in ticketing, had a large revenue surplus versus budget.
Chief Executive, Ryan Duckett, said: “In 2020 and 2021 we very much had to lockdown the business to reduce costs; ticket income, commercial sponsorship and conference and events revenues were severely affected, but thankfully we have been able to rebuild the business over the last 12 months, back to pre-pandemic levels and in certain areas beyond.
“Having achieved our objective of becoming debt free we now have strong foundations to build on the positive progress made by Mickey Arthur and the squad last year on the field and further invest in our facilities.”
Chief Financial Officer Tim Baker added: “The Club has budgeted for another small surplus in 2023, with a focus on trying to manage rising costs in an increasingly challenging economic climate. We are mindful that 2023 will be a tough year financially and will continue to look for ways to grow our revenues and manage our costs to maintain this healthy financial position and ultimately continue investment in facilities and the cricket budget.”
The Club has delivered on the objective, set by the Board of Directors, to be debt free apart from a long-term mortgage by the end of 2024, two years ahead of the planned schedule. This was achieved by paying in excess of £2,000,000 of loan repayments over the last few years linked to the building of the WDS Business and Media Centre.
Mather Jamie advise on sale of distribution hub and wins CoStar award
Specialist land development and property consultancy Mather Jamie has advised on the sale of a 674,000-square-foot distribution hub in Melton Mowbray.
The sale was challenging given its size in a small market town and the fact the owner wanted to vacate a property it no longer required.
Aware that Urban Logistics REIT had raised capital to buy logistics properties that provided added value, Alex Reid from Mather Jamie brokered a deal in which the vendor would remain in the property in 2023 in order to fulfil ongoing commitments, whilst also providing the vendor capital and an early exit and the purchaser income during the period required to market the distribution hub to a tenant. The property sold for £40.7 million, a 6.67% yield.
The space will be now marketed by Mather Jamie and M1, which advised Urban Logistics.
Commenting on the project, Alex Reid, head of commercial property at Mather Jamie, said: “By arranging the short lease the vendor was given time to fulfil commitments and buyer was income during the marketing phase.”
Fred Burstal, senior property manager at Urban Logistics REIT, added: “The complexity of the deal has resulted in both companies winning a CoStar Impact Award which highlight the commercial real estate transactions and projects that have transformed their markets over the past year.”
The winners of CoStar awards are chosen by independent panels of industry professionals who work in the markets they judge. CoStar Group, Inc., is the leading provider of commercial real estate information, analytics and online marketplaces. The Awards, therefore, honour the very best agents in commercial real estate.
One of the judges, Ian Dunckley, development director for Tungsten Properties, said: “72 acres [in] Melton Mowbray with 674,000 square feet of existing buildings provided a challenging sale for Mather Jamie in a small market town. It is a big investment in this East Midlands market town and allows Urban Logistics to masterplan and develop over a number of years.”
Acquisition sees Leicester-based WBR Group expand presence into London
WBR Group (WBR) has acquired Wimbledon-based Bespoke Corporate Pensions Limited (BCPL) for an undisclosed sum. Based in Leicester, WBR Group is the UK’s largest independent provider of SSAS services and tax experts.
BCPL was founded by Eddie Kingsley 28 years ago and has over 100 SSAS and group defined benefits schemes and £200m in assets under administration. It is a boutique SSAS administrator that is a service led business with very loyal clients that have grown over time. It provides high end SSAS services and is an ideal fit for WBR Group, following closely on the acquisition of Rowanmoor’s book of 3,500 SSASs.
Tom Moore, CEO of WBR Group, said: “We have made no secret that we are acquisitive and have shown how we can successfully integrate these businesses. This is our third acquisition and follows the purchase of the James Hay SSAS book in March 2021 and Rowanmoor’s SSAS book in 2023.
“The acquisition of BCPL is a great fit for us as it is rare that you have the opportunity to acquire such a loyal group of clients and a quality book of business. This will be our first London presence and is an important part of our growth strategy. We look forward to welcoming the team to WBR Group.”
Eddie Kingsley, CEO of BCPL, said: “So much has impressed me about WBR as I have got to know them. I see shared professional values, technical expertise, commercial know-how, strong working partnerships with clients and fair dealing. I know that I will be joining a team of colleagues whose professional calibre is of the very highest order.
“I see a firm whose financial strength is robust. I am immensely proud of the business that we have created at BCPL, but I know that we can do more and to do that we needed to become part of a larger organisation with the same client centric focus and shared professional values.”
